ALGN vs RSP: Correlation
Align Technology (ALGN) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and RSP?
Over the past 3 years, ALGN and RSP moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 334.3 %².
Among the 37 assets we track against ALGN, RSP ranks #5 by 3-year correlation. Over the last 12 months RSP came out ahead by 7.3 percentage points (+11.9% against +19.2%). The rolling one-year correlation moved between 0.43 and 0.68 over the past three years, a moderate range. Risk is not evenly split, since ALGN carries 3.4 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ALGN vs RSP: side by side
| ALGN (Align Technology) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +11.9% | +19.2% |
| 5-year return | -77.4% | +53.9% |
| Volatility (ann.) | 44.3% | 13.2% |
| Beta vs S&P 500 | 1.51 | 0.77 |
| Max drawdown (3Y) | -66.7% | -17.8% |
| Market cap | $11.3B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.00% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Health Care | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | ALGN | RSP |
|---|---|---|
| 2022 | -67.9% | -11.6% |
| 2023 | +29.9% | +13.7% |
| 2024 | -23.9% | +12.8% |
| 2025 | -25.1% | +11.2% |
| 2026 | +1.7% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that RSP holds ALGN at a 0.17% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ALGN and RSP good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALGN and RSP?
As of 2026-08-27, the correlation of weekly returns between ALGN and RSP is 0.57 over 3 years, 0.61 over 1 year and 0.60 over 5 years.
Is RSP a good diversifier for ALGN?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/algn-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/algn-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALGN correlations · RSP correlations
